SABIC approves SR 9 billion dividends to shareholders 2 Riyadh

In his remarks, Prince Saud Bin Thenayan Al-Saud praised the
proactive interaction of SABIC’s shareholders on corporate
development objectives and leadership ambitions.


He pointed out that the company’s increasing success is the result
of integrated and combined efforts of the board, executive
management, employees, shareholders, customers and suppliers. "Such
efforts enable SABIC to strongly face the challenges arising of the
global economic crisis," he was quoted as saying in a press release
issued by SABIC.


The Prince said that SABIC continues development of revenues and
returns of operations with an average growth of profits in the last
five years of 34 percent, average sales growth of 28 percent and
average growth of assets of 21 percent. Assets increased to SR 272
billion by end of 2008. This confirms the strength of the company’s
financial position and its ability to fulfill its obligations.
SABIC has succeeded in maintaining a strong credit rating whilst many
large competitors have been forced to restructure operations, close
down some production units and demobilize considerable human
resources.

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